Vale (NYSE:VALE) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Vale (NYSE:VALE) in a research report report published on Friday morning. The firm issued a buy rating on the basic materials company’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group cut Vale from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $11.50 in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Barclays decreased their price target on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.50 to $11.30 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Vale has a consensus rating of “Hold” and an average target price of $14.38.

Vale Stock Performance

Shares of VALE stock opened at $9.26 on Friday. The stock’s fifty day simple moving average is $10.33 and its 200-day simple moving average is $10.71. The company has a market capitalization of $41.51 billion, a price-to-earnings ratio of 4.29, a P/E/G ratio of 0.27 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale has a 1-year low of $9.22 and a 1-year high of $16.08.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts predict that Vale will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Vale

Several hedge funds have recently added to or reduced their stakes in VALE. Ballentine Partners LLC boosted its holdings in Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock worth $159,000 after purchasing an additional 987 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in shares of Vale by 6.9% in the second quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after buying an additional 1,154 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Vale by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after buying an additional 1,187 shares during the last quarter. IFG Advisory LLC lifted its stake in Vale by 6.1% in the second quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Vale by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 1,375 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.